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The Financial Express

Global Insurance recommends 5.0pc stock dividend

| Updated: May 12, 2018 11:20:22


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The board of directors of Global Insurance Limited has recommended 5.0 per cent stock dividend for the year ended on December 31, 2017.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on July 14 at ‘FARS Hotel & Resorts’ in Dhaka, said an official disclosure on Thursday.

The record date for entitlement of dividend is May 30.

The company has also reported earnings per share (EPS) of Tk 0.43, net asset value (NAV) per share of Tk 11.92 and net operating cash flow per share (NOCFPS) of minus Tk 0.35 for the year ended on December 31, 2017 as against Tk 0.55, Tk 12.29 and minus Tk 0.14 respectively for the same period of the previous year.

In 2016, the company disbursed 7.0 per cent stock dividend.

Each share of the company, which was listed on the Dhaka bourse in 2005, closed at Tk 13.80 on Wednesday at the Dhaka Stock Exchange (DSE).

There will be no price limit on the trading of the shares of the company on today (Thursday) following its corporate declaration.

The company’s paid-up capital is Tk 350.30 million and authorised capital Tk 1.0 billion while total number of securities is 35.03 million, according to DSE statistics.

Sponsor-directors own 35.93 per cent stake in the company while institutional investors own 34.11 per cent and the general public 29.96 per cent as of March 31, 2018.

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